Brisbane, Australia. 23 March 2010: Xenome Limited (“Xenome”) today announced that MedImmune LLC (‘MedImmune”), the biologics unit of AstraZeneca, has exercised its option to obtain exclusive licenses to four peptides from Xenome’s xdiscover™ venom peptide library against an undisclosed target involved in a key pain pathway.

The decision to exercise this option follows an agreement announced in January 2009 between MedImmune and Xenome, under which MedImmune screened Xenome’s xdiscover™ library of peptides.

The financial terms of the licenses remain confidential, however Xenome will be eligible to receive undisclosed milestone and royalty payments associated with the ongoing development of product candidates derived from the peptides.

“Xenome is pleased with the ongoing interest in its discovery platform,” stated Xenome’s Chief Executive Officer, Dr Ian Nisbet. “We look forward to realising the potential of this collaboration with MedImmune."

The xdiscover™ library is a proprietary collection of more than 2000 primarily venom-derived peptides and is the result of a unique genomics capability that allows for the highly efficient discovery of novel peptides from cone snail venom tissue. Xenome has leveraged the identification of venom peptide sequences into high quality synthesised peptides arrayed into a library suitable for high throughput screening.

About Xenome:

Xenome is a biotechnology company focused on the discovery and development of peptide-based therapeutics. Utilising its expertise in peptide chemistry and its novel technology platform, Xenome translates the evolutionary advantages inherent in venom peptides into new drug candidates.

The Company's lead product, Xen2174, is a novel conopeptide analogue for the treatment of moderate to severe pain. Xen2174 is a non-competitive inhibitor of norepinephrine transporter (NET), a validated target for the management of pain. In an international phase I/II clinical trial in cancer patients, a single intrathecal administration of Xen2174 was found to be safe and well-tolerated across a broad dose range. In addition, the study provided evidence for an analgesic effect that had a rapid onset of action and was long-lasting.

Xenome's discovery platform is based on proprietary libraries of venom peptides, analogues and mimetics. Research licence agreements are in place with Amylin Pharmaceuticals, Inc. (NASDAQ:AMLN) and MedImmune LLC (the biologics unit of AstraZeneca), each of which have access to Xenome’s xdiscoverTM library for specific indications or targets.

Further information can be obtained from the Xenome website (www.xenome.com).